AIR BRAKE ENGINEERING SYSTEMS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
AIR BRAKE ENGINEERING SYSTEMS
Largest movements
- Receivables within one year -€26,252
down €26,252 (-7.3%), from €359,436 to €333,183
of which Trade receivables: -€29,652
- Cash +€15,997
up €15,997 (+50.7%), from €31,543 to €47,540
mainly Trade debts (+€52,943) and Receivables within one year (+€26,252)
- Trade debts +€52,943
up €52,943 (+48.3%), from €109,586 to €162,530
- Other debts -€48,838
down €48,838 (-10.6%), from €461,561 to €412,723
- Profit (loss) carried forward -€13,676
down €13,676 (-542%), from -€2,523 to -€16,199
- Gross operating margin -€62,230
down €62,230 (-60.8%), from €102,335 to €40,105
- Staff costs -€40,435
down €40,435 (-47.5%), from €85,186 to €44,751
- Financial charges -€14,032
down €14,032 (-70.6%), from €19,889 to €5,857
- Financial income -€7,999
down €7,999 (-63.7%), from €12,556 to €4,557
- Write-downs -€1,600
down €1,600 (-100%), from €1,600 to €0
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €852,184 | €835,691 | -€16,493 | -1.9% |
| Fixed assets | 21/28 | €16,363 | €11,092 | -€5,271 | -32.2% |
| Intangible fixed assets | 21 | €6,783 | €4,891 | -€1,892 | -27.9% |
| Tangible fixed assets | 22/27 | €9,580 | €6,201 | -€3,379 | -35.3% |
| Plant, machinery and equipment | 23 | €628 | €0 | -€628 | -100% |
| Furniture and vehicles | 24 | €8,952 | €6,201 | -€2,750 | -30.7% |
| Current assets | 29/58 | €835,821 | €824,599 | -€11,222 | -1.3% |
| Stocks and contracts in progress | 3 | €436,726 | €436,120 | -€606 | -0.1% |
| Stocks | 30/36 | €436,726 | €436,120 | -€606 | -0.1% |
| Amounts receivable within one year | 40/41 | €359,436 | €333,183 | -€26,252 | -7.3% |
| Trade receivables | 40 | €242,415 | €212,763 | -€29,652 | -12.2% |
| Other amounts receivable | 41 | €117,020 | €120,420 | +€3,400 | +2.9% |
| Cash at bank and in hand | 54/58 | €31,543 | €47,540 | +€15,997 | +50.7% |
| Deferred charges and accrued income | 490/1 | €8,116 | €7,756 | -€360 | -4.4% |
| Total equity and liabilities | 10/49 | €852,184 | €835,691 | -€16,493 | -1.9% |
| Equity | 10/15 | €35,017 | €21,341 | -€13,676 | -39.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €18,940 | €18,940 | = | 0.0% |
| Distributable reserves | 133 | €18,940 | €18,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,523 | -€16,199 | -€13,676 | -542% |
| Provisions and deferred taxes | 16 | €1,378 | €1,235 | -€144 | -10.4% |
| Provisions for liabilities and charges | 160/5 | €1,378 | €1,235 | -€144 | -10.4% |
| Other liabilities and charges | 164/5 | €1,378 | €1,235 | -€144 | -10.4% |
| Amounts payable | 17/49 | €815,789 | €813,116 | -€2,673 | -0.3% |
| Amounts payable after more than one year | 17 | €150,000 | €150,000 | = | 0.0% |
| Financial debts | 170/4 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €665,789 | €663,116 | -€2,673 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €109,586 | €162,530 | +€52,943 | +48.3% |
| Suppliers | 440/4 | €109,586 | €162,530 | +€52,943 | +48.3% |
| Taxes, remuneration and social security | 45 | €19,641 | €12,863 | -€6,778 | -34.5% |
| Taxes | 450/3 | €11,127 | €7,219 | -€3,908 | -35.1% |
| Remuneration and social security | 454/9 | €8,514 | €5,643 | -€2,871 | -33.7% |
| Other amounts payable | 47/48 | €461,561 | €412,723 | -€48,838 | -10.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €85,186 | €44,751 | -€40,435 | -47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,433 | €6,336 | +€903 | +16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,600 | €0 | -€1,600 | -100% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €33 | -€144 | -€177 | |
| Other operating charges | 640/8 | €1,410 | €1,378 | -€32 | -2.3% |
| Gross operating margin | 9900 | €102,335 | €40,105 | -€62,230 | -60.8% |
| Operating profit (loss) | 9901 | €8,672 | -€12,217 | -€20,889 | |
| Financial income | 75/76B | €12,556 | €4,557 | -€7,999 | -63.7% |
| Recurring financial income | 75 | €12,556 | €4,557 | -€7,999 | -63.7% |
| Financial charges | 65/66B | €19,889 | €5,857 | -€14,032 | -70.6% |
| Recurring financial charges | 65 | €19,889 | €5,857 | -€14,032 | -70.6% |
| Profit (loss) for the period before taxes | 9903 | €1,339 | -€13,517 | -€14,856 | |
| Income taxes | 67/77 | €351 | €159 | -€192 | -54.6% |
| Profit (loss) for the period | 9904 | €988 | -€13,676 | -€14,664 | |
| Profit (loss) for the period to be appropriated | 9905 | €988 | -€13,676 | -€14,664 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.